Marathon Petroleum will offer fixed-rate senior notes in three parts

By Devika Patel

Knoxville, Tenn., April 23 – Marathon Petroleum Corp. is expected to price fixed-rate senior notes in three tranches, according to a 424B5 filing with the Securities and Exchange Commission.

The notes feature a make-whole call and then a par call.

Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Mizuho Securities USA Inc. are the bookrunners.

Proceeds will be used to repay debt under the company’s five-year revolving credit facility, to prefund the repayment of other debt with near term maturities and for general corporate purposes.

Marathon Petroleum is a crude oil refiner based in Findlay, Ohio.

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